Credit sesame3/22/2023 ![]() ![]() "Creating access to better credit and finance is critical for financial prosperity for consumers in our country, and it's enlightening to see major banks and the federal government also taking action," said Adrian Nazari, CEO of Credit Sesame. This will open the doors to financial inclusion for millions struggling to enter the credit system for the first time, and will help others build credit faster. Consumers will have a unique opportunity to bring their cash and credit together to build a strong credit and financial foundation and see an actionable path leading to financial health and stability. ![]() Later this year, Credit Sesame is launching a first-of-its-kind feature that will allow consumers to use their cash to help them build and enhance their credit profile with ease and no credit check. Leveraging Zingo's intelligent data platform, Credit Sesame will collect, verify, and report rental payments to the credit bureaus to help consumers establish credit and improve their credit profiles based on their consistent payment history. Nearly 80 percent of Credit Sesame's 15 million members are renters, and this new offering unlocks a significant growth opportunity for the company and financial inclusion for its customers. The latest product and service innovations from Credit Sesame leverage its significant consumer data and AI and aim to help close the credit chasm, which affects more than 44 million Americans who are credit invisible and face significant challenges getting into the traditional credit and financial system.Īs a first step to helping close this gap, Credit Sesame has completed the acquisition of Zingo, a fintech software services startup, enabling the company to integrate rent reporting services into its suite of financial wellness offerings in summer 2021. The company enters this next phase of growth with significant business momentum, as it surpasses over one million Sesame Cash debit account customers in less than a year from the beta launch and exceeds 200 percent annual growth in premium subscription services. SAN FRANCISCO, J/PRNewswire/ - Credit Sesame, a financial wellness platform, today announced it has raised $51 million in growth capital to launch breakthrough AI-driven services that help millions gain easy access to credit and free banking services to reach their financial goals.
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